Medpace (NASDAQ:MEDP) Stock: Insider Susan Burwig Sells 16,060 Shares

Key Points

• Medpace VP Susan Burwig sold 16,060 shares at an average price of $677, generating approximately $10.87 million and reducing her direct stake by 21.8%.
• Medpace shares rose 2.8% to $692.68, near their 12-month high, while the company reported quarterly EPS of $4.84—beating estimates—and revenue growth of 8.5% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $649.27; institutional investors and hedge funds own nearly 78% of the stock.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) VP Susan Burwig sold 16,060 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $677.00, for a total value of $10,872,620.00. Following the transaction, the vice president directly owned 57,624 shares in the company, valued at approximately $39,011,448. The trade was a 21.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Medpace Trading Up 2.8%

MEDP traded up $18.89 during trading hours on Wednesday, hitting $692.68. 301,484 shares of the company's stock were exchanged, compared to its average volume of 331,874. Medpace Holdings, Inc. has a 12-month low of $373.00 and a 12-month high of $693.97. The firm has a 50 day moving average of $614.90 and a 200 day moving average of $530.18. The firm has a market cap of $19.37 billion, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 2.90 and a beta of 1.18.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.44 by $0.40. The company had revenue of $716.00 million during the quarter, compared to analysts' expectations of $714.47 million. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.86 EPS. As a group, research analysts expect that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.

Analysts Set New Price Targets

MEDP has been the topic of several recent research reports. BMO Capital Markets upped their price target on Medpace from $600.00 to $670.00 and gave the stock a "market perform" rating in a report on Monday. Robert W. Baird set a $699.00 price objective on Medpace in a research note on Friday, October 23rd. Barclays boosted their price objective on Medpace from $625.00 to $675.00 and gave the stock an "equal weight" rating in a research report on Friday, October 23rd. Truist Financial upped their target price on shares of Medpace from $609.00 to $633.00 and gave the stock a "hold" rating in a research note on Friday, October 23rd. Finally, UBS Group raised their target price on shares of Medpace from $673.00 to $700.00 and gave the company a "neutral" rating in a report on Friday, October 23rd. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $649.27.

Hedge Funds Weigh In On Medpace

A number of institutional investors and hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in Medpace in the second quarter valued at $27,000. Jones Financial Companies Lllp purchased a new stake in Medpace during the 2nd quarter worth about $30,000. Allied Private Wealth LLC acquired a new position in shares of Medpace during the 2nd quarter worth about $31,000. Kilter Group LLC acquired a new position in shares of Medpace during the 2nd quarter worth about $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Medpace during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 77.98% of the company's stock.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace's services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.

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